Real Estate in Manhattan: An Overview

 

William Raveis Real Estate
Image: raveis.com

A fluent speaker of English and Spanish, Gustavo L. Vila served for over two decades as a New York City police officer and lieutenant. Currently, Gustavo L. Vila applies his skills in the real estate industry as a licensed broker and a Certified Homeownership Professional at William Raveis Real Estate.

At Williams Raveis, Mr. Vila specializes in helping clients sell and purchase homes throughout the New York City region. As a whole, real estate in New York City is among the hottest and most expensive in the United States with an average sale price of over $920,000. This trend of high-cost housing exists in all five of the city’s boroughs.

However, there are differences in the local real estate market in each borough. For example, the most expensive borough is Manhattan, with an average sale price of $980,000.

Factors driving Manhattan’s high cost include the area’s dense population of 1.6 million people, a low inventory of housing, and a fast paced, active housing market. The borough also features a strong economy that has experienced increasing employment and hosts a healthy technology base. Although the region experienced a short period of price stagnation recently, real estate costs in Manhattan have continued trending upward in recent months.

Raveis Mobile App Offers Comprehensive Home Search

Raveis
Image: Raveis.com

Gustavo L. Vila serves as a real estate broker for William Raveis Real Estate, a family-owned real estate firm in New York ranked 9th in the country according to residential real estate industry publisher REAL Trends. Services offered by Gustavo L. Vila’s company include the Raveis mobile app.

The app allows users to search through a database of more than 300,000 for lease or for sale homes, located across the northeast. Designed to adapt to the user’s needs, the comprehensive application displays information on mortgage rates and insurance alongside over 6 million high-resolution photos of available homes. Users can also search for homes using a variety of search parameters, such as square footage, price, and number of bedrooms or bathrooms. The My Favorites feature also enables users to save their favorite searches. Additionally, users can sign up for a weekly rate watch to receive information on current trends.

The Raveis mobile app is available for android, iPhone, and iPad devices.

Statistics on Westchester County Residents and Residences

 

Westchester County
Image: westchestergov.com

A former commanding officer with the New York City Police Department, Gustavo L. Vila now serves as a licensed real estate broker. Working through William Raveis Real Estate in the community of Yorktown Heights, Gustavo L. Vila facilitates the purchase and sale of homes in Westchester County.

According to the most recent census, taken in 2016, Westchester County is home to nearly 1 million residents. This includes approximately 25,000 residents more than inhabited the county in 2010, a 2.7 percent population increase.

Westchester County residents occupy slightly more than 369,000 housing units. Approximately 50 percent of these residences are single-unit, while the rest are multi-unit permanent buildings. Approximately 61.5 percent of these units are owner-occupied and have a medium value that slightly exceeds $500,000. Mortgage-holders pay approximately $3,300 per month, while mortgage-free homeowners and renters pay just over $1,300.

In the years measured, there were just under three persons in the average household. Of these residents, close to 90 percent had occupied the same residence for at least 12 months.